There are many reasons why Dane County property owners can feel good about their investment. Here are 5 big reasons why the greater Madison area is one of the best places in the country to own a home, condo, or investment property.
5 reasons why Madison is a great place to own real estate
A strong local economy
The greater Madison area is blessed with many thriving businesses and one of the lowest unemployment rates in the country. Innovative companies like Epic Systems, Exact Sciences, and others are fueling growth by adding a variety of new, high-paying jobs to our economy.
A high quality of life
The Madison area has a strong reputation throughout the country for being a great place to live and work. The University of Wisconsin, a rich cultural and arts scene, good healthcare, and our many parks, trails, and lakes make Dane County one of the most attractive places to live in the country. In our world of real estate, we continue to be amazed by the number of out-of-town and out-of-state buyers who relocate to the area. Each year we work with several out-of-town clients whose goal is to retire and relocate to Dane County.
An influx of out-of-town investors
Dane County is also known throughout the country as a great place to own income property. Based on our own work in the multifamily market, it's clear many out-of-state investors view Madison real estate as a sound investment that will appreciate in value over time.
A growing population
Dane County continues to lead the state in population growth. Last year, the county added over 5,500 residents, which is more than double the growth of any other county in the state. Our growing population needs housing. This is one of many reasons why our local inventory of homes, condos, and rental properties will remain low for the foreseeable future.
Perpetually low inventory
As we shared in this recent article, there are several other factors contributing to low inventory. These include a tight rental market, a low influx of new construction homes and condos, and an empty pipeline of foreclosure and short sale properties. Perpetually low inventory is setting the stage for more price appreciation in the years ahead.
Buying and selling in 2020
Are you planning to buy or sell real estate within the next year? Please reach out to your favorite Mad City Dream Homes agent for a short consultation. Whether you plan to buy, sell or both - we'll help you make the most of any market.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred